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Snapchat is an American multimedia instant messaging app and service developed by Snap Inc., ... Friends can be added via usernames and phone contacts, ...
The company was named Snapchat Inc. at its inception, but it was rebranded Snap Inc. on September 24, 2016, in order to include the Spectacles product under the company name. [12] Snap is co-owned by Tencent (which holds a 45.43% stake) and NBCUniversal , a division of Comcast (whose stake is undisclosed).
[8] [9] The app's popularity grew significantly and in 2012, Spiegel left Stanford to focus on Snapchat shortly before completing his degree. [1] [10] By the end of 2012, Spiegel's Snapchat app had reached 1 million daily active users. [8] He later completed his remaining credits and graduated in 2018. [11] [12]
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At Snapchat, Murphy has led the engineering and research teams. [12] Murphy has also worked with Snapchat's Snap Labs team, which produced Spectacles camera glasses in 2018. [13] [14] At the time of Snapchat's IPO in 2017, Murphy and Spiegel held over 45% of the company's total stock. They also held over 70% of the voting power.
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Snapchat says that users are sharing about 20 million images a day, or about 231 per second. For comparison, when Instagram had 10 million users it processed 25 photos a second. [15] 2012: October 29: Product: Snapchat launches an Android app. [15] [16] 2012: December 12: Funding: Snapchat is reported to be raising north of $10 million at a $70 ...
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